Handling your family and social life as a trader

Discussion in 'Professional Trading' started by Raje, Dec 28, 2009.

  1. Raje


    A question to traders out there that trade their own account from home...full time...successfully...for a living.

    Other than being a loner and a hermit...how to you handle this socially...and/or with extended family?

    I mean, trading successfully is the life a lot of people would love to have, and if they know you do it, do friends and family hound you to teach them how? Maybe this is not really a problem, but if it is, how do you deal with it?
  2. why do you need ask permission to be a trader or to be successful.. sounds like you are worried of either blowing up or actually making it...or both

    If you think this is just a trading issue its not - It would feel the same way for you likely if you were starting a technical business at home, etc...

    If you are asking us permission to trade, you won't get that likely, but you might start with asking permission to be self-employed first... and never ask anyone other than yourself for permission to be successful!

    As for dealing with imaginary people out there family or otherwise - asking you how you got to be successful, they won't ask believe me. How many people ask the guy who won the recent ironman or boston marathon or some sports hero "how he got there" It's called hard work and 99% would rather post useless stuff on ET or watch TV than actually train and put the time in...

    good luck..
  3. Raje


    I'm sorry...I have no idea what psytrade is trying to say. I'm not asking for anything other than what I wrote in my post.
  4. parker



    I think your asking more, how do you deal with friends and family members who ask you specifically how to trade. I get this from time to time and I find responding with "Sure, I'd love to show you some time" or something along those lines works best.

    one of two things happens, 1. someone is genuinely interested (and depending on your personality and who they are to you) in something you enjoy and you can share that with them. 2. The comment is taken in the same manner you took the original question. not seriously. and people move on.
  5. the1


    I tell them that it took me about 5 years to learn the profession and they'd have to be willing to commit that length of time to have a chance at being successful. That usually stops them in their tracks.

    I also find it necessary to get out of the office so I teach college part-time in the evenings and teach baseball to kids in the spring time.

    Be up front with your friends and family about the length of time it takes to become successful in this profession. They will probably let the issue go. Be sure to find some activities outside of trading because it can be a very lonely profession.
  6. parker


    As a 19 year old, my situation is a little different. I don't really have a huge amount of training time to point too.

    In fact, my biggest issue is dealing with older men (specifically uncles and fathers of friends). Sometimes I will hear things being said about investing or business in general that make me cringe. When I add my input to a conversation I usually get the "what do you know your just a kid" attitude/expression.

    I try not to take it too seriously.
  7. 1) Regarding the "isolation", you have to make and create time for a social life. Since you "save" a few hours of time each day, every day, in not commuting to a "normal" job, it should be relatively easy.
    2) Regarding family and friends who want to be "mentored", I mostly emphasize the downside of trading and self-employment. That tends to scare away most wanna-bees. :cool:
  8. If you are a successful trader, you will have more time to socialize and spend time with family and friends.
  9. TraDaToR


    Typical conversation when someone sees my trading platform:

    "Wow, 4 screens. What are those blue and red things?
    - blue are bids. Red are asks.
    - Why are there some numbers in it?
    -That's the number of contracts to buy or sell
    -Phew... that seems complicated."

    End of the conversation.

    As far as I recall, nobody( other than traders ) has ever been more interested than that. One of my close friend once opened a mini lot forex account, lost 200 $ and stopped. One other close friend has opened an account with a "broker"(LOL)but never put money in it. He did it just to do the same as his boss.
  10. Social life and how you present yourself to others is what you make of it. It has nothing to do with trading. Its how you handle yourself as a person in front of others. You are supposed to learn these skills while growing up and in school.

    If you need a message board to figure out how to handle yourself in front of others, then you probably have much greater issues.
    #10     Dec 29, 2009